Undergraduates interested in pursuing a career in management accounting should consider taking economics and statistics courses. Coursework in this field focuses on business operations strategies, such as planning, scheduling, inventory management, and quality control. Business law is also covered. In addition to learning the fundamentals of accounting, graduate-level coursework in this field develops critical thinking and analytical skills. After graduation, you can expect to work for a multinational corporation. As an entry-level employee, you can expect to perform routine financial and managerial tasks, but you can expect to do more with your knowledge of the industry.
Managerial accounting requires judgment, as future outcomes are subject to great uncertainty. Managerial accountants must assess the impact of various factors on the company’s operations and interpret the data into actionable information. These professionals also work with senior executives to gather relevant information for making business decisions. Without them, senior executives would be betting on the future and basing their decisions on instinct rather than a strategic plan. In short, management accountants create a certain degree of certainty in a world full of uncertainty.
A career in management accounting can take many different directions, depending on your goals. Some professionals advance in management through decision-making and may even work in management of organizations. Volunteering for various projects will help you gain more knowledge about your company. In addition to their role as decision-makers, management accountants also play a crucial role in decision-making. A Master of Accountancy from Ohio University will prepare you for the challenges of the modern business environment.
Aspiring management accountants should become involved in the profession by participating in professional organizations, such as IMA. This association is comprised of over 60,000 accountants worldwide. Becoming a CMA requires a bachelor’s degree and two four-hour examinations in Financial Planning, Performance Analysis, Control, and Financial Decision Making. Additionally, CMAs must have two years of professional experience and complete 30 hours of continuing education annually, as well as specialized ethics training.
An online Bachelor of Arts in Accounting from UAGC prepares students for careers in management accounting by providing technical, conceptual, and analytical skills. Courses include topics such as international accounting, statistics for managers, and government offices. The program can be completed entirely online, which makes it convenient for working professionals. Management accountants are in high demand in public companies, nonprofit organizations, and government offices. Specific job titles and responsibilities are assigned by each company, depending on its business model.
